The $1700 area presented an attractive pocket of liquidity for Ethereum bears, but it was also a critical level for bulls to breach, and it was unclear which way ETH would go next.
2023-24
The price action of the past two weeks indicated a robust bearish sentiment. The series of lower highs and lower lows have continued in the past four days, although the momentum slowed down. The 1-day chart showed that the $1625-$1680 was a demand zone, where the previous Ethereum rally reaching $2020 was initiated.
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